Greece: Industrial output records lowest expansion since July in December
Industrial output expanded 8.1% year-on-year in working-day adjusted terms in December, which was a deterioration from November’s 8.4% increase. The result marked the worst reading since July. December’s reading was partly driven by a deterioration in manufacturing output growth, as it expanded at the slowest pace since March. Meanwhile, electricity supply production gained steam.
On a calendar-adjusted monthly basis, factory output rose 0.1% in December (November: -1.2% mom). Meanwhile, annual average industrial production growth rose to 9.9% in December (November: +9.6%). This signals an improving trend in the industrial sector.